Global Dairy Trade Index Fell 1.1% at September Auction
The latest Global Dairy Trade (GDT) auction recorded a further decline in international dairy prices. Its price index was 1.1% lower than at the previous event, extending the weakness observed across recent editions of the trading platform.
The auction produced an average winning price of $3,868 per metric ton. Bidding took place over 18 rounds and lasted two hours and 56 minutes, with participants submitting offers in real time.
A total of 155 bidders took part in the session. Of these, 126 secured a winning bid in at least one round, providing a measure of participation and competition during the auction.
Supply available for purchase ranged from a minimum of 38,570 metric tons to a maximum of 45,568 metric tons. The quantity ultimately sold was 42,444 metric tons, which was within that offered range.
GDT is a major international marketplace for dairy products. Its auction results are monitored by governments, cooperatives and exporting companies because they provide an indication of movements in prices for milk and dairy derivatives.
The latest reduction has added to the market conditions being monitored by participants in the dairy industry. The auction data include both the lower price index and the volume sold, while the session’s results were determined through the 18-round bidding process.
